• Canada’s economy grows more than expected in April

Market news

28 tháng 6 2019

Canada’s economy grows more than expected in April

Statistics Canada announced on Friday that the country’s gross domestic product (GDP) grew 0.3 percent m-o-m in April, following an unrevised 0.5 m-o-m advance in March.

That was below economists’ forecast for a gain of 0.1 percent m-o-m.

According to the report, goods-producing industries rose 0.4 percent m-o-m, while services-producing industries went up 0.2 percent m-o-m. The 20 industrial sectors were nearly evenly split between gains and losses. Mining, quarrying and oil and gas extraction climbed 4.5 percent m-o-m in April, while wholesale trade sector increased 1.4 percent m-o-m and the construction sector rose 0.2 percent m-o-m. At the same time, the manufacturing sector fell 0.8 percent m-o-m in April, recording the largest monthly decline since August 2017, while retail trade and transportation and warehousing edged down 0.1 percent m-o-m each.

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